United Terra Energy is 100% owned by
Terraoil Swiss AG – an exploration and production company in oil and gas industry with a strong operational focus in Albania and the Balkans.
Since 2012 Terraoil Swiss AG operates Visoka oil field and has 100% working interest in this field.
In 2018 Head of Terms were signed for another 3 fields – Cakran, Gorisht and Amonice, with Production Share Agreement for 3 new fields planned to be signed during 2022.
After an intensive evaluation process throughout Terraoil's licensed land plots,
United Terra Energy, through it's mother company Terraoil Swiss AG, has signed an indicative term sheet with a third party on the exclusive cooperation with respect to a tender regarding a project to develop, build, operate and finance of solar power in Albania and the region, including the Visoka Field and the new fields (subject to completion of the new field Production Share Agreement). The company has submitted all the necessary documents to the local authorities and has received the approval to perform the feasibility study in 2022.